HUT-266: Affordable Housing & Mixed-Income Development, Finance, & Management

Semester: Spring

Credit: 1.0

Faculty: Edward Marchant

Schedule

Day Time Location
First Day 1/28
Meet Day M/W 4:40 PM - 6:00 PM L280
Review

Description

Explores the development, financing, and management of both rental and ownership, affordable and mixed-income housing developments. Analyzes both public and private development cost, tax credit, operating, debt service, and rental assistance subsidy vehicles. Addresses the common practice of aggregating subsidies into comprehensive gap funding packages. Reviews establishing development objectives, assembling and managing a development team, preparing feasibility studies, controlling sites, gaining community support, securing subsidies, syndicating tax credits, coordinating the design and construction process and managing the completed asset.  Includes discussion of inclusionary, workforce, and special needs housing.  Many students elect to participate in the Affordable Housing Development Competition (AHDC), an exercise where interdisciplinary student teams from Harvard and MIT work with clients to develop affordable housing proposals for selected sites in the Greater Boston area. For these students the AHDC proposal becomes the final course assignment. The course includes lectures, cases, exercises, site visits, guest lectures, and student presentations.